Okay, so after more investigation the following:
3 hoses connected to it
one hose coming from fuel pump to it that says "wiper" on top of fuel pump
one hose from manifold goes to it
one hose from distributer goes to it.
I assume its a vacuum collector of sort for the wipers????
Nice to know I stumped you guys.
I'll try to help. Paul was mostly right. Are you asking:
"What is the distributor spark control valve?" or "Is my distributor valve connected properly?"
The distributor vacuum control valve compares the vacuum signal between the intake manifold and the spark port, and allows manifold vacuum to override spark port vacuum to the distributor vacuum advance thru the temperature activated vacuum valve. (TAV) It is often called the deceleration valve, because it will primarily come into effect during deceleration and gives a small advance to assist in burning fuel.
The root part number of the valve is -12A111 and it is found in a large number of Ford vehicles from 1968-1977+. You can find good examples for a 6 cylinder as a C8AZ-12A111-A. The Bronco piece will have a special part number because the part is acutally a "valve and bracket." You should be able to find the engineering number stamped on the bracket.
It has absolutely nothing to do with the wipers, and should not be connected to the wiper system. It needs to see manifold vacuum. NOT wiper vacuum.
Here's a diagram that shows what it is, and how it is plumbed.